German mogul frees up cash with rare Knorr-Bremse sale

Sam Kerr

June 19, 2020 02:30 pm

Knorr_bremse_PA_575x375_June19 — The logo of Knorr-Bremse AG is seen on the roof of the company's headquarters in Munich, Germany, 25 March 2014. The manufacturer of braking systems for railway and utility vehicles presents its annual results 2013 on 25 March 2014. Photo: NICOLAS ARMER/DPA | Nicolas Armer/DPA/PA Images

German billionaire Heinz-Herman Thiele, one of the country’s richest men, sold a €728m stake in German break manufacturer Knorr-Bremse to fund other investments. Since Covid-19 he has built up a substantial position in German airline Lufthansa and is now the company's largest shareholder.

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Sam Kerr